Ripple (XRP) Underlines That It Does Not Need The USA With This Partnership!
Ripple has signed a new partnership.
San Francisco-based blockchain giant Ripple has announced a new partnership with Malaysia's e-wallet company Mobile Money. According to the statements made, this partnership will enable real-time wallet-to-wallet transfers between Malaysia and Bangladesh.
New Partnership From RippleNet
With the last step taken, the RippleNet network has connected bKash and Mobile Money, which has served more than 45 million customers and has been a long-time partner.
On the other hand, Lee Eng Sia, the founder of Mobile Money, stated that they expect their user base to expand with this partnership and said, “Our partnership with Ripple makes us one of the first few e-wallet companies to offer such digital remittance solutions to Bangladeshi employees. We are confident that it will enable us to be one step ahead of the competition while expanding our base. ” used the expressions.
New User Audience
BKash, which transformed Bangladesh from a cash-based economy into a digital one, joined forces with Ripple in November 2019 . At that time, the RippleNet network reached a major milestone, surpassing 300 customers.
According to CEO Kamal Quadir, despite successfully driving the country to digital transformation, bKash still faced the problem of excessively costly and slow money transfer, and that's why they applied to Ripple.
"One of the greatest values of leveraging blockchain technology is that it allows companies to meet customer demand for instant, transparent and cost-effective global payments , " Quadir said in a statement . used the expressions.
In addition, according to the statements made, money transfers sent from Malaysia to Bangladesh will be met with the help of Mutual Trust Bank Limited, a local private banking institution. Quadir states that more than 10 million Bangladeshi can make uninterrupted money transfers with the following words:
bKash is delighted to partner with Ripple and the Bangladesh Mutual Trust Bank to deliver a cost-effective, fast, transparent and reliable money transfer experience to more than 10 million non-resident Bangladeshis worldwide.
Ripple Customers
Concerns about the future of Ripple and its subordinate XRP cryptocurrency were a serious hot topic in late December, after the company was sued by the US Securities and Exchange Commission.
But as CEO Brad Garlinghouse explains, 95 percent of Ripple's customers are not from the US. The new partnership is a proof of this.